Public Comments on Regulatory Review (CFTC, CPSC, Department of Education, PBGC, USDA)
Many federal agencies are requesting the public’s suggestions for rules to repeal or reform, tacitly implying that most regulations stifle economic growth. In comments to several agencies, we argue that regulatory review should consider the public benefits of regulation, not just the costs to regulated industries, and should prioritize review of rules for which actual costs and benefits diverge significantly from predicted costs and benefits. We also recommend that agencies develop prospective plans for regulatory review going forward. The agencies for which we filed comments include the Commodity and Futures Trading Commission, the Consumer Product Safety Commission, Department of Education, the Pension Benefit Guaranty Corporation, and Department of Agriculture.